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107 Market,  Nappanee IN, 46550 (Commercial)

Status: Active
MLS#: 202013654
1of
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Last Updated: 10/22/2020 12:24 AM
Description for 107 Market Nappanee, IN 46550
Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. All 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $50,400, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.
Price
$349,900
None
Elkhart County
202013654
Active
Description
Great redevelopment opportunity in the heart of Downtown Nappanee. Located on the Southeast corner of Market St and Main St, this two story mixed-use building features 5 retail/office spaces on the ground level and approximately 7,700 sqft of potential residential space on the second floor with 14 foot ceilings. All 5 retail/office spaces are occupied and cash-flowing, with annual revenues of $50,400, including one second-story 3-bed 1-bath apartment which is also occupied. This building presents an investor the opportunity to redevelop the second story into 8-12 apartments and increase NOI significantly. Located a short distance from several new restaurants, bars and breweries, new apartments would be well situated to attract tenants. Comparable upper-market apartments are renting for $1,200 for 2-beds.
Listing Information
Property Type: Mixed Use, Other
1900
Union//
None
Neighborhood
Room Information
Interior Features
Central Air
Gas Heat, Hot Water, Radiant, Forced Air
City
Exterior / Lot Features
Street Parking
City Sewer
None
62X125
0.21 Acres
City Road
Driving Directions
South East Corner of the Intersection of SR6 & SR19
Financial Considerations
20-14-31-301-001.000-029
$6,220
Listing Price History
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Nappanee Real Estate

Nappanee is located in Indiana. Nappanee, Indiana 46550 has a population of 7,184.

The median household income in Nappanee, Indiana 46550 is $47,490. The median household income for the surrounding county is $43,398 compared to the national median of $50,013. The median age of people living in Nappanee 46550 is 36 years.

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Courtesy: Joseph Tiffany - Tiffany Group Real Estate Advisors LLC
This content last refreshed on 10/22/2020 12:24 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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